TechFlow News, May 19: According to a report by Le Monde, three French cryptocurrency industry figures jointly published a commentary stating that stablecoin transaction volume over the past year has reached $46 trillion—approximately three times Visa’s annual transaction volume—and stablecoins are now becoming core infrastructure for the global payment system. Meanwhile, Agentic AI—autonomous AI agents—have processed over 119 million stablecoin payments via the x402 standard, which has already been adopted by Coinbase, Cloudflare, Google, and Visa. However, under Article 150 VH bis of France’s current tax code, converting stablecoins back into bank accounts triggers a 31.4% capital gains tax, causing substantial funds to remain outside the stablecoin ecosystem and resulting in an estimated annual fiscal loss of €1–3 billion. The article urges France to advance tax reform within the next six months to avoid missing this emerging industrial wave.
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